Yes I have that bar and a Panhard bar as well. The ladder bar set up will be tucked up under the car in order for it to get low to the ground. Exhaust will run standard and dump at the axle. I will set it up and get the Panhard instead of the diagonal link to leave room for the exhaust. The Panhard bar will get set up in there when I install the ladder bar.
Guys trip when using a Panhard bar because they say it allows the rear end to move side to side when the suspension goes up and down on travel. WELL, I swung an arch on the ground at full suspension travel and if the Panhard bar is set up level at ride height it will only move maybe 3/16" or so. That is nothing.
There are 2 size spacers that come with that stud kit. You use which ever one works with your wheel thickness. They go outside of the wheel like a washer.